Procedural History:

Issues:

Does a degree/education qualify as marital property subject to equal distribution?

Holding/Rule:

A degree/education does not qualify as marital property subject to equal distribution.

Reasoning:

There are necessary limits upon what may be considered property; one definition is "everything that has an exchangeable value or which goes to make up wealth or estate."

In deciding whether something falls in this category, can look to whether it can be assigned, sold, transferred, conveyed, or pledged, or whether it terminated on death of the owner.

Here, the degrees/education satisfy none of the requirements of property.

Other jurisdictions agree with us.

It has even been held that a person's earning capacity, even where enhanced by a law degree financed by the other spouse, should not be recognized as a separate, particular item of property.

A spouse who provides financial support while the other spouse acquires an education is not without a remedy; when there is marital property to be divided, such contribution to the education may be taken into account by the court.

Here, no marital property had been accumulated.

Dissent:

The most valuable asset acquired by either party during this six year marriage was the husband's increased earning capacity, which resulted from wife's income. She invested in his education.